“Raamatupidamise praktik”, a March edition of Äripäev newspaper, issued an article “Preparation and documentation of general meeting called for approving the annual report” written by Merlin Salvik, partner and attorney-at-law of Hedman Partners. The article focuses on describing the process of preparing and approving annual report, gives instructions about the term of calling a meeting and points out the aspects of calling and conducting a general meeting in order to approve the annual report.

The New York Times „Great Homes and Destinations“ section recently covered the topic of purchasing an apartment in Tallinn’s Old Town, Hedman Partners‘ attorney-at-law Liisa Linna was quoted as saying that property prices in the Old Town have remained quite high despite the market conditions.

The European Union has 27 member states and as many different tax systems. Finnish tax system has been regarded in Estonia as not very entrepreneur friendly in Estonia. It has been much talked about the tax increase in Finland next year and the fact that therefore Finnish companies will transfer of their principal activities to Estonia. Herein we look more closely, whether and how much taxes will increase in Finland.

According to Penal Code failure to perform the obligation to submit petition in bankruptcy provided by law is punishable by a pecuniary punishment or up to one year of imprisonment. However when exactly is the member of the Management Board obligated to submit the bankruptcy petition to court – i.e. when is a company permanently insolvent? Answers to the question presented herein can be found in the decision of the Supreme Court dated 28th of October 2011 where the court has thoroughly examined the prerequisites for applying this punishment.

International trade has become relatively important nowadays, therefore the sales transaction is usually performed in a manner in which the goods pass through several stages and persons in order to transport them from the manufacturer or seller to purchaser. In order to deliver the goods to the purchaser the seller generally enters into a contract of carriage of goods with a third party, which may in turn conclude a subcontract, but sometimes it is better for the seller to enter into a freight forwarding contract, for example, if the seller does not have time or expertise to find a suitable carrier.  Freight forwarder in turns enters into a liability insurance contract (similar to the carrier) with the insurer to reduce the liability, which may arise from violation of the freight forwarding contract.

Merlin Salvik, attorney-at-law, attended the seminar called Pärnu Accounting Conference 2011 where she spoke about the following topic “Capital conversion into Euros. To prepare and document the general meeting for the approval and confirmation of annual report”.